The bulletin includes Vulnerabilities in Microsoft Word and Office Web Apps Could Allow Remote Code Execution (2916605), Vulnerability in Windows Kernel Could Allow Elevation of Privilege (2914368), Vulnerability in Windows Kernel-Mode Drivers Could Allow Elevation of Privilege (2913602) and Vulnerability in Microsoft Dynamics AX Could Allow Denial of Service (2880826).
For a list of affected software and details go here – http://technet.microsoft.com/en-us/security/bulletin/ms14-jan